Bank Ifis buys other risky loans from Santander Consumer Bank and a leading international fund. The transactions concern a total of 68.500 positions, for a total value of 630 million euro. The company did not disclose the purchase price.
In detail, 18.500 positions were purchased from Santander Consumer Bank for a total of 230 million, while the second portfolio purchased is made up of 50.000 positions, for a total value of approximately 400 million euro.
The non-performing loans held by Banca Ifis thus reach a total value of 7,4 billion euro, for a total of over 960 thousand positions. The institute aims to reach 8 billion euros of non-performing loans by the end of the year and is also considering entering the non-performing sector relating to real estate and corporate loans.
In the afternoon, the Banca Ifis stock dropped by 1,13%, to 22,67 euro, but since the beginning of the year it has achieved growth of 66,88 percent.
